Zacks: Analysts Anticipate SEI Investments (SEIC) to Announce $0.76 EPS

Brokerages predict that SEI Investments (NASDAQ:SEIC) will report $0.76 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for SEI Investments’ earnings. The highest EPS estimate is $0.77 and the lowest is $0.75. SEI Investments posted earnings per share of $0.63 in the same quarter last year, which would suggest a positive year over year growth rate of 20.6%. The business is expected to announce its next earnings report on Wednesday, October 24th.

On average, analysts expect that SEI Investments will report full-year earnings of $3.15 per share for the current year, with EPS estimates ranging from $3.12 to $3.19. For the next fiscal year, analysts anticipate that the company will post earnings of $3.32 per share, with EPS estimates ranging from $3.20 to $3.47. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow SEI Investments.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Thursday, July 19th. The asset manager reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The business had revenue of $404.80 million for the quarter, compared to the consensus estimate of $405.58 million. SEI Investments had a net margin of 30.25% and a return on equity of 29.98%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS.

A number of research firms have recently commented on SEIC. Zacks Investment Research cut SEI Investments from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. BidaskClub lowered SEI Investments from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Finally, Mizuho reiterated a “buy” rating and issued a $85.00 price target on shares of SEI Investments in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $78.75.

In related news, EVP Kevin Barr sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $59.14, for a total value of $1,478,500.00. Following the completion of the sale, the executive vice president now owns 69,134 shares in the company, valued at $4,088,584.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Mcgonigle sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $62.83, for a total value of $942,450.00. Following the completion of the sale, the insider now owns 27,540 shares of the company’s stock, valued at approximately $1,730,338.20. The disclosure for this sale can be found here. Insiders sold 42,973 shares of company stock valued at $2,598,794 in the last quarter. 17.30% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of SEIC. Millennium Management LLC lifted its holdings in SEI Investments by 111.3% during the second quarter. Millennium Management LLC now owns 837,744 shares of the asset manager’s stock worth $52,376,000 after buying an additional 441,285 shares during the period. Prana Capital Management LP purchased a new stake in SEI Investments during the second quarter worth $20,768,000. BlackRock Inc. lifted its holdings in SEI Investments by 2.3% during the second quarter. BlackRock Inc. now owns 13,385,091 shares of the asset manager’s stock worth $836,835,000 after buying an additional 298,517 shares during the period. Natixis lifted its holdings in SEI Investments by 5,554.5% during the first quarter. Natixis now owns 285,550 shares of the asset manager’s stock worth $21,391,000 after buying an additional 280,500 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in SEI Investments by 30.9% during the second quarter. Janus Henderson Group PLC now owns 1,134,674 shares of the asset manager’s stock worth $70,940,000 after buying an additional 268,000 shares during the period. Institutional investors own 68.81% of the company’s stock.

Shares of SEIC traded up $0.47 during mid-day trading on Wednesday, reaching $62.21. 80,201 shares of the company’s stock traded hands, compared to its average volume of 622,966. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 1.64 and a beta of 1.14. SEI Investments has a 12 month low of $58.15 and a 12 month high of $78.35.

SEI Investments announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 30th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the asset manager to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

SEI Investments Company Profile

SEI Investments Co is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.

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